For the past several months, we've watched the number of homes for sale continue to grow across the Des Moines metro. But in August, another part of the market caught my attention: sales activity is beginning to slow, even though home prices remain relatively strong.
Active listings climbed to more than 4,700 homes in August—nearly 12% higher than a year ago. At the same time, pending home sales declined for the fourth consecutive month, and closed sales also slowed.
Yet the median sales price remained just under $320,000 and was still 5.5% higher than August of last year.
Another number I'm watching closely is months of inventory, sometimes called the absorption rate. This helps us understand the relationship between the number of homes available and the pace at which they're selling. In June, the Des Moines market had about 2.5 months of inventory. That increased to 3.3 months in July and approximately 3.7 months in August.
We haven't suddenly moved into a buyer's market, but I do think we're beginning to see signs that the balance between buyers and sellers is changing. And interestingly, we're seeing that change first in activity—not in home prices.
In my August 2026 Des Moines Housing Market Update below, I break down the latest numbers and, more importantly, talk about what they could mean if you're considering buying or selling a home in the Des Moines metro.
Watch the full market update below.
If you're thinking about making a move, remember that market-wide statistics only tell part of the story. What matters most is what's happening with homes in your price range, your neighborhood and your particular situation.
If you'd like to talk through what today's Des Moines real estate market means for you, I'm always happy to help.
Michelle Price, ABR, CRS, CNE, SRES
33 Years of Experience You Can Trust
Realty ONE Group Impact
515-360-1014
michelle@michelleprice.com
www.michelleprice.com